Author: Muindi

Small scale traders in Nairobi’s Kamukunji, Gikomba and Nyamakima markets closed their businesses on Friday, August 28, in a boycott against a new customs valuation benchmark set by the Kenya Revenue Authority. The action follows weeks of pushback over a decision that raises the minimum reference value for a 40 foot container of consolidated cargo from Sh2.5 million to Sh3.2 million. The Sh700,000 increase, a rise of about 28 percent, took effect on August 21 after what KRA describes as a one month grace period granted to give traders time to prepare. What changed KRA uses the benchmark, known as…

CIC Insurance Group PLC reported a profit after tax of KES 1.09 billion for the six months ended June 30, 2026, up 70.3 percent from KES 638.5 million in the same period last year.  The increase came even as the insurer’s core underwriting business weakened. Insurance service result, the profit generated purely from writing and managing policies, fell 67.2 percent to KES 42.0 million from KES 128.2 million. Investment income covered the gap and then some, pushing the bottom line higher. Underwriting Margin Narrows Further Insurance revenue grew 17.8 percent to KES 16.34 billion from KES 13.87 billion. But insurance…

The Nairobi Securities Exchange (NSE) posted a profit after tax of KES 736.9 million for the six months ended June 30, 2026, up 386.1 percent from KES 151.6 million in the same period last year. The bourse operator’s board approved the unaudited results on August 27, 2026. Total income for the half rose 136.6 percent to KES 1.21 billion from KES 511.6 million, according to the results published on the exchange’s website. Profit before tax climbed 396.0 percent to KES 1.01 billion, while earnings per share increased to KES 2.82 from KES 0.58 a year earlier. Equity Levy Income Jumps…

Continental Reinsurance has received a license from the National Bank of Rwanda to open a Representative Office in Kigali, extending the pan-African reinsurer’s reach in East Africa. The office trades as Continental Reinsurance (R) Limited and began operations on 10 August 2026. The National Bank of Rwanda approved the license, and the office will operate under that name. The move gives Continental Re a formal foothold in a market it has served from a distance until now. What the office will do The Representative Office will serve as a local liaison, connecting Continental Re with insurers, reinsurance brokers, and other…

Kakuzi Plc has reported a sharp drop in half year earnings, with net profit falling 97.6 percent as dry farm conditions, disrupted shipping routes and a weaker macadamia market weighed on the agribusiness through the first six months of 2026. The Nairobi Securities Exchange listed firm published the unaudited results for the six months to 30 June 2026 alongside a profit warning that flags a further decline in full year earnings. H1 2026 results at a glance Metric H1 2026 H1 2025 Change Sales KES 1.12B KES 1.51B Down 26.0% Profit before tax KES 10.4M KES 435.2M Down 97.6% Net…

Kenya Airways lifted first half revenue 9% to KShs 81 billion for the six months to June 30, 2026, even as a smaller fleet and a sharp jump in fuel prices drove the airline deeper into loss. The national carrier told investors in Nairobi that demand for its network held firm despite operating with 9% less capacity than a year earlier. Stronger aircraft utilization and commercial performance lifted cabin factor by 3.9 percentage points to 76.3%, while average fares held their strength across the network. “We grew revenue by 9% to KShs 81 billion despite operating with 9% less capacity,”…